Russia’s Services PMI rises to 52, Composite PMI to 50.8 in March

MOSCOW, Apr 5 (PRIME) -- Russia’s Services purchasing managers’ index (PMI) continued growing in March, reaching 52, which is above a 50 no-change threshold, and the Composite PMI increased slightly to 50.8, according to a Markit research note published on Tuesday.

“Behind the improvement was an increase in demand for Russian services, which appears to have picked up since the beginning of 2016,” Samuel Agass, Economist at Markit, said, as quoted in the report.

The volumes of new work rose on stronger demand but incomplete work continued falling.

Service providers continued reporting job cuts for 25 months in a row but the rate of job number decreases was slow.

Both input and output prices increased in March.

The business confidence peaked in six months but was quite low if compared to the pre-crisis levels.

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